HSBC Personal Loan

HSBC Personal Loan
(Product Review)

Updated July 20, 2024

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Annual Interest Rate


Minimum Loan Amount


Processing Fee

Current HSBC Personal Loan Rate

Today's HSBC Personal Loan interest rate trends in Singapore - As of Saturday, July 20th, 2024, HSBC Personal Loan’s annual interest rate stands at 4.00% with an effective interest of 7.50%.

Product Review

In Singapore, HSBC provides some of the most affordable personal loans. With introductory interest rates starting at
3.2% p.a. (EIR 6%). In addition, the bank provides loans with the longest repayment terms (7 years) in Singapore. It
enables borrowers to reduce their monthly repayments by spreading the total repayment amount over a longer period.

This feature is ideal for borrowers who are concerned about their ability to make monthly payments. HSBC also provides
loan approvals in minutes and cash disbursements the same day, making it one of the fastest lending providers.

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3 Months

72 Months

Your monthly payment


* For a loan amount of $20,000, APR of 6.95%, 5 year tenure, the tot. loan payable will be $26,940 with a monthly cost of $449. An individualised APR will be presented at the end of your application. Max. APR 8.88%. Min. repayment period 3 months, max. 72 months.

Foreigners First Choice

For foreigners looking for personal loans in Singapore, HSBC is an excellent choice. The bank has the country’s lowest
minimum income requirement for foreign borrowers (S$40,000). This income level is lower than that of other financial
institutions.. Furthermore, foreigners with at least S$120,000 annual salary can borrow up to S$200,000, which is 8
times their monthly income. Those earning between S$40,000 and S$120,000 can borrow four times their monthly earnings
(up to S$100,000). This makes HSBC a considerable player for foreigners in need of a larger personal loan.


HSBC charges a 2.5% early repayment fee and a $75 late fee. Both fees are comparable to those charged by other banks. To
avoid accruing unnecessary fees, we recommend repaying any loan in due time.

Overview of HSBC Personal Loan Interest Rates

Loan Duration AIR Fee EIR Total Cost Monthly Payment
1 Year 4.00% $0 7.50% S$10,400 S$867
2 Year 4.00% $0 7.50% S$10,800 S$450
3 Year 4.00% $0 7.50% S$11,200 S$311
4 Year 4.00% $0 7.50% S$11,600 S$242
5 Year 4.00% $0 7.50% S$12,000 S$200
*Rates Updated July 20, 2024 - Loan Amount Example S$10,000

Application Requirements

Singapore citizens and permanent residents can apply for HSBC personal loans. They must earn at least S$30,000 per year,
while self-employed and commission-based workers, as well as employment pass holders, must earn at least S$40,000 per
year. Borrowers with a minimum annual salary of S$120,000 are eligible for loans up to eight times their monthly income
(up to S$200,000). Foreigners must also show proof of employment in Singapore. Please keep in mind that while HSBC
provides personalized interest rates, you may not be eligible for their lowest rates depending on your borrowing plan.


HSBC is offering promotional interest rates as low as 3.4% per annum (EIR 6.5% per annum). If you apply online through HSBC, you’ll get an extra $100 cashback.


  • Apply via ROSHI

    You can start your application by clicking the HSBC link.

  • Deliver Required Documents

    In order for HSBC to approve your personal loan application, you must provide all required documentation.
    Documents on this list include:

    • NRIC or other forms of identification
    • The most recent computerized payslip The most recent 6-month CPF Contribution History Statement
    • If you want to be considered for a larger loan amount, please provide the most recent Income Tax Notice
      of Assessment (NOA).
  • Receive your loan payments

    The loan will be disbursed once HSBC has approved your online application.


  • Reasonably priced rates

    Some of the most competitive loan interest rates on the market

  • Excellent for foreign visitors

    Provides an excellent means for foreigners in Singapore to obtain financing.

  • Specific loans are ineligible for use

    Does not provide the required flexibility for specific loan uses such as auto or student loans.

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Frequently Asked Questions

What is an HSBC personal loan approval in principle?

In a nutshell, in-principle approval is a provisional approval granted by the bank based on the information provided by the client. HSBC can provide in-principle approval in less than a minute. Of course, your application will still be reviewed by the bank before it is approved. Typically, in-principle approval is only valid for 14 days.

How do I pay off my HSBC loan?

You must have an HSBC repayment account to pay off your HSBC personal loan. You can fund this account with a check, cash, or bank transfer. Then, on the due date, your monthly payments will be debited.

How can I check the status of my HSBC personal loan?

To check the status of your HSBC personal loan application, call HSBC customer service at 1800 HSBC NOW (4722 669) or (65) 64722 669 if calling from abroad. You can also contact the bank directly to inquire about the status of your application.